eSIM is ‘growth lever’ for FNB Connect
eSIMs now account for 30% of mobile virtual network operator FNB Connect’s digital sales, says CEO Sashin Sookroo.
eSIM technology has become a significant growth driver for FNB Connect, a virtual network operator owned by the big-four bank. Since launching eSIM support in November 2024, the digital sales of the MVNO have reached 30% eSIMs. CEO Sashin Sookroo reported that eSIM adoption is surging, with local usage increasing by 144% and global usage growing by 717% year-on-year.
The service now covers over 240 countries and regions across 800 networks, allowing customers to pre-purchase global travel bundles up to 60 days in advance directly from their banking app. Sookroo anticipates that the market for eSIM-enabled phones will continue to expand, driving further growth. FNB Connect was the first bank-owned MVNO to offer eSIM support to its retail and commercial customers. eSIMs have been praised as a more environmentally friendly alternative to physical SIM cards.
The MVNO's growth in digital services sales increased by 19.2% and device sales rose by 18.4% in the year ended June 30, despite global supply chain challenges. FNB Connect remains a crucial part of the bank's overall strategy, with connectivity playing an increasingly vital role in customers' lives.
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